Awareness to ALL LIGHT (Lead with Integrity and Good Governance in Helping Communities for Holistic Transformation) Microfinance, Inc., about the Repossessed Vehicles held on September 23, 2022, via online web conference hosted by the Main Office in San Fernando, Pampanga
Erwin Libunao, Unit Head Administration Services facilitated the discussion about the immediately dispose of the repossessed vehicles by offering it to eligible loan officers as a benefit under the alternative transportation program (ATP). This is a form of transportation loan program for other staff and being offered to third-party buyers as well to avoid the accumulation of idle vehicles in the branch offices that would be regarded eventually as significant losses, since idle motorcycles decrease in value because of its depreciation. This is also aimed to recover some expenses incurred by the organization through interest earnings.
Finance and Accounting Manager, Greggy Canja, explained the detailed mechanics on the payment scheme for employees who will avail of this ATP. Eligible LIGHT employees acquiring a repossessed vehicle in application for their ATP shall be entitled to free comprehensive insurance of the vehicle for one year.
Erwin Libunao emphasizedthat, “the aim of this learning session is to enable the organization to offer these repossessed vehicles mainly to officers and staff as a benefit of an alternative transportation program and at the same to offer them to interested buyers.”